Saturday, July 26th22.3°C
22716
22412

Husky to develop Newfoundland oilfield

Husky Oil Operations Ltd., a subsidiary of Husky Energy (TSX:HSE), has been approved to develop the South White Rose Extension project off Newfoundland.

The Canada-Newfoundland and Labrador Offshore Petroleum Board made the announcement today for the project that's expected to cost about $1.2 billion.

South White Rose is estimated to contain about 33 million barrels of oil that can be recovered using subsea flow lines connected to the SeaRose production vessel.

Husky spokeswoman Colleen McConnell says first oil is expected by the end of next year.

The offshore petroleum board says the province and Ottawa have ratified the board's approval.

McConnell says the first phase will start this summer with the installation of gas injection equipment at the site 350 kilometres east of St. John's.

The Canadian Press


Read more Business News




Recent Trending




Today's Market
S&P TSX15455.04+60.59
S&P CDNX1017.445.79
DJIA16960.57-123.23
Nasdaq4449.564-22.543
S&P 5001978.34-9.64
CDN Dollar0.9247+0.0002
Gold1294.80+4.2001
Oil104.30-0.29
Lumber326.00+0.20
Natural Gas3.783-0.064

 
Okanagan Companies
Pacific Safety0.185-0.015
Knighthawk0.01-0.005
QHR Technologies Inc1.15-0.02
Cantex0.07-0.01
Anavex Life Sciences0.275-0.005
Metalex Ventures0.08+0.01
Russel Metals35.36-0.21
Copper Mountain Mining2.820.00
Colorado Resources0.21+0.005
ReliaBrand Inc0.10+0.019
Sunrise Resources Ltd0.05+0.025
Mission Ready Services0.19+0.01

 



21723

FEATURED Property
197553810-4100 Gallaghers Parkland Dr.
2 bedrooms 3 baths
$719,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Take charge of your debt

Photo: Thinkstock.comWays to reduce your Debt:Make a budget and get budget counselingA basic first step for debt reduction is to prepare a budget and plan your spending. Once you have a budget, you mu...


Geopolitical tensions rattle markets

The Big Picture Geopolitical tensions rattle markets The spectre of rising geopolitical tensions in Ukraine and Gaza cast a shadow over an otherwise positive week in the markets. News that a passenger...


Labour shortage in BC

The mainstream media are finally waking up to something unusual in British Columbia – a labour shortage. If the experience of Alberta is a guide to our own future, the highly skilled labour will...

_








Member of BC Press Council


22097